Delhivery To Buy Ecom Express For $165 Mn

The logistics major announced that it will be acquired 99.4% equity of Ecom Express for INR 1,407 Cr ($164.5 Mn) in an all-cash deal

Post the acquisition, which is expected to fructify within six months of the execution of the share purchase agreement, Ecom Express will become a subsidiary of Delhivery

The competition of the deal is subject to approval from the Competition Commission of India (CCI)

Listed logistics service provider Delhivery said it will be acquiring a controlling stake in rival startup Ecom…